Bit Digital, Inc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Bit Digital, Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3.71	6.95	7.89	4.57	21.1	96.1	32.3	44.9	108	114
Cost of revenue					14.1	30.7	20.4	29.6
Gross profit					6.96	65.3	11.9	15.4
Research and development	0.42	0.49	0.45	0.14
General and administrative	1.64	3.92	1.89	1.99	2.52	39.2	23	27.7	41.5	81
Operating expenses	3.49	8.31	1.89	1.99	19.9	83	139	61.5	80.5	205
Operating income	0.22	-1.36	-1.89	-1.99	1.56	5.89	-107	-16.6	27.6	-91.8
Interest expense										3.09
Interest income	0	0.02	0.02		0
Other non-operating income	0	0.09	0.19	0.68	-19.5	-3.04	1.28	3.01	4.72	7.99
Pre-tax income	0.22	-1.27	-1.89	-1.99	1.56	2.85	-106	-13.6	32.3	-86.9
Income tax	0.05	-0.27	-0.46	0.81		3.86	-0.59	0.28	3.98	-2.01
Income from continuing operations			-1.89	-1.99	1.56	-1.01	-105
Net income to minority interests	0	-0.05	-0.11	-0.21						-4.61
Net income	0.16	-0.94	-3.54	-9.68	-2.28	-1.01	-105	-13.9	28.3	-80.3
EBITDA	0.26	-1.3	-1.81	-1.96	4.9	20.3	-79.3	-2.19	59.9	-55
EPS, basic	7.22	-0.16	-0.28	-0.72	-0.07	-0.02	-1.34	-0.16	0.20	-0.31
EPS, diluted	7.22	-0.16	-0.28	-0.72	-0.07	-0.02	-1.34	-0.16	0.19	-0.31
Shares, basic (weighted)	0.02	5.84	12.3	13	30.6	55.4	78.6	87.5	140	258
Shares, diluted (weighted)	0.02	5.84	12.3	13	30.6	55.4	78.6	87.5	142	258

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	7.38	5.46	2.33	0.02	0.41	42.4	32.7	16.9	95.2	118
Receivables									5.27	23.9
Other current assets	0.49	4.34	3.19	0.01	2.02	3.05	1.43	18.2	28.3	26.7
Total current assets	7.91	10.1	5.66	0.56	8.72	90.3	64.4	83.3	297	178
Property, plant and equipment	0.09	0.08	0.72		29.8	32.5	22.6	81.5	107	360
Lease right-of-use assets								6.22	15	12.1
Goodwill									19.4	20.1
Intangible assets									13	12.8
Other non-current assets	1.1	2.77	6.09	3.96		6.71	9.03	9.29	9.58	28.6
Total assets	9.1	12.9	12.5	4.52	39.9	174	100	189	538	1,174
Accounts payable							3.63	2.32	3.42	8.88
Accrued liabilities								0.16
Deferred revenue	0.01							13.1	30.7	8
Total current liabilities	0.28	0.47	0.4	0.43	1.89	5.04	7.44	27.1	55	92.9
Long-term debt						2.77	3.04
Lease liabilities								4.35	9.28	5.42
Total liabilities	0.28	0.47	0.4	0.43	1.89	8.27	10.5	36.6	74.8	309
Total debt						2.77	3.04
Paid-in capital	8.05	12.3	15.9	17.6	53.2	183	213	291	554	890
Retained earnings	0.05	-0.89	-4.32	-13.8	-15.7	-26.1	-131	-147	-98.2	-179
Treasury stock						-1.09	-1.17	-1.17	-1.17	-1.17
Other comprehensive income	-0.2	0.33	-0.03	-0.1					-1.57	1.33
Shareholders' equity	7.86	11.8	11.6	3.83	37.6	165	89.9	153	463	724
Minority interests	0.96	0.61	0.47	0.25						141
Total equity	8.82	12.4	12.1	4.09	38	165	89.9	153	463	865
Total liabilities and equity	9.1	12.9	12.5	4.52	39.9	174	100	189	538	1,174
Shares outstanding	0.02	11.1	12.8	13.2	48	69.6	82.5	107	179	324

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.16	-1	-3.54	-9.68	-2.28	-1.01	-105	-13.9	28.3	-84.9
Depreciation and amortization	0.04	0.06	0.08	0.03	3.34	14.4	27.8	14.4	32.3	36.8
Stock-based compensation						21.9	2.26	9.12	9.88	24.6
Deferred income tax	0.03	-0.28	-0.55	0.81		0.4	-0.4		2.3	-2.55
Change in receivables									-4.67	-18.8
Change in payables	-0.01				14.3	21.6	3.16	0.69	3.5	6.74
Cash from operations	-1.09	-1.91	-5.05	-1.35	-0.97	-17.4	-8.5	1.11	-13	-289
Capital expenditures	-0.11	-0.05	-0.75		-4.51	-46.8	-19.3	-66.7	-94	-286
Acquisitions					0.01				-39	-1.59
Purchases of investments							-2	-2.19	-16
Cash from investing	-0.11	-0.03	-3.33	-0.92	-4.49	-46.8	-18.6	-69.2	-149	-287
Debt issued						1.28
Stock issued	8.04				5.25	75	21	45.3
Share buybacks						-1.09	-0.08
Dividends paid								-1.6		-0.8
Cash from financing	8.04	-0.39	5.94		5.26	106	18.7	52.2	243	599
Exchange rate effect	-0.14	0.41	-0.08	-0.04					-0.1	0.54
Net change in cash	6.7	-1.92	-2.52	-2.3	-0.21	42	-8.39	-15.8	80.8	22.7
Free cash flow	-1.2	-1.96	-5.8		-5.48	-64.2	-27.8	-65.6	-107	-575
Income taxes paid		0.01	0.08			0.13	0.73	-0.63	0.13	0.67

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.76 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-225.3%	Operating income / revenue.
EBITDA margin	-191.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-251.8%	Pre-tax income / revenue.
Net margin	-237.2%	Net income / revenue.
FCF margin	-619.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-225.7%	Cash from operations / revenue.
Return on equity (ROE)	-73.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-23.6%	Net income / average total assets.
Return on invested capital (ROIC)	-64.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	14.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	393.6%	Capital expenditures / revenue.
D&A / revenue	33.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	52.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	40.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-433.2%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-191.9%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-383.7%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-263.2%	EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	56.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	100.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	80.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	118.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	127.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	96.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	82.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	48.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	53.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.51x	Current assets / current liabilities.
Quick ratio	0.66x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.51x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.06x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	2.1%	Total debt / total assets.
Liabilities / assets	56.9%	Total liabilities / total assets.
Net debt	-$58.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$82.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$363.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.10x	Revenue / average total assets.
Fixed asset turnover	0.18x	Revenue / average property, plant and equipment.
Receivables turnover	5.28x	Revenue / average receivables.
Days sales outstanding	69 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.83	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.35	Revenue / diluted weighted shares.
FCF per share	-$2.17	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.79	Cash from operations / diluted weighted shares.
Book value per share	$1.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.03	Tangible book value / shares outstanding.
Cash per share	$0.24	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$634.7M	Share price x shares outstanding.
Enterprise value	$576.6M	Market cap + total debt - cash - short-term investments.
P/S	5.17x	Market cap / revenue.
P/B	1.61x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.74x	Market cap / tangible book value, when positive.
EV/Sales	4.69x	Enterprise value / revenue.
FCF yield	-119.9%	Free cash flow / market cap.
Earnings yield	-45.9%	Net income / market cap (the inverse of P/E).
Dividend yield	0.1%	Dividends paid over the period / market cap.
Shareholder yield	0.1%	(Dividends paid + share buybacks) / market cap.

What was Bit Digital, Inc's revenue in fiscal 2025?

Bit Digital, Inc reported revenue of $113.6M for fiscal 2025, 5.1% higher than the year before.

Was Bit Digital, Inc profitable in fiscal 2025?

No. It reported a net loss of $80.3M.

How much free cash flow did Bit Digital, Inc generate in fiscal 2025?

Cash from operations of $288.9M minus capital expenditures of $285.9M left free cash flow of -$574.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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